The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1887-11-22
TUESDAY, NOV. 22, 1887.
The Hawaiian Legislature.
10TH DAY.
MONDAY, Nov. 2lst.
MORNING SESSION.

MORNING SESSION.
The House opened at 9:l0 A. NJ,
the President 5. G. Wilder in the
chair.
Mr.. Hustace presented two petit
tons from residents asking restric-
tons of Chinese Immigration. Re-
ferred to Judiciary Committee.
Mr.. Paehaole presented petition
from Molokai that no more liquor be
imported into the Kingdom. Re-
ferred to special committee.
Also another that $500 be appro-
priated for roads at Pelekunu. Laid
on the table.
Mr.. Kawainui presented petitions
from Hama that a native physician
be appointed to treat natives who
have paaoao. That road supervisors
be abolished. That no attorney
be allowed fees unless they clear
their clients. That no duties be
imposed upon any merchandise I'M
ported into the Kingdom for the use
of the Catholic Church. That par
ents having 5 children in schools be
exempt from taxes. Referred to
miscellaneous committee.
Mr.. Brown reported from the Ju-
dietary Committee that the bill in
regard to the Iii of Eleele pass with
amendment as recommended.
Adopted.
Minister Thurston answered the
questions from the member for
Hanalei in regard to the treatment
of leprosy, that the Government has
not taken any steps to treat leprosy
as was done by DR.. Aiming. There
has been an application from a
gentleman lin town to treat the
lepers at the Branch Hospital, but
the Board of Health did not think
that the expense would be justifia-
BILE.
Mr.. Baldwin read a minority re-
port on the Loan bill, recommending
that the bonds be paid in Z. 5.
Gold.
On motion the report was laid on
the table to come up in committee
of the whole when the Loan bill is
discussed.
Minister Brown gave notice of a
bill for the compensation of repre-
sentativeS.
Mr.. Naone offered a resolution
that the road from Beretania to Lii
liha street be fixed as it is now al
most impossible.
Minister Ashford read for the first
time an Act to authorize the Minis
ter of Finance to execute and deliver
certain bonds.
On motion the rules were sus-
pended and the bill read a second
time.
The House then went into COM
mittee of the whole to discuss this
bill, Mr.. Hitchcock in the chair.
Mr.. Kinney offered an amendment
to section /. That the Minister of
Finance use his discretion in issuing
and delivering the bonds, that a
financial agent be appointed by this
Government to deliver the bonds in
London, and that the bonds shall
not be valid without being counter
signed by such agent.
Minister Green said he was sorry
to say that he did not think that the
amendment offered by Mr.. Kinney
could be made operative, as in case
the subscribers did not accede to
certain conditions, the bonds would
have to be delivered any way. |
believe Mr.. Armstrong is personally
responsible for his acts, and if we
wish to sue him we can recover;
but l earnestly hope that this House
will not injure our credit in the
greatest money lending market in
the world. Our bonds have been
quoted on the London market at 8
per cent. premium. If we send the
bonds promptly, confidence will be
established and the premium will be
greater. tits no disadvantage to have
our bonds in sterling money. 1t is
the currency of the largest money
market in the world. l have before
me letter from one of the largest
financial houses in this city express
sing the wish to have their bonds
changed from dollars to pounds
sterling, at the rate of SIS to the
pound sterling. This is not sur
prising when you come to think of
the facts, the bonds are bound to
exceed s per cent premium. The
difference between S. and sover-
eign is 8 per cent. There is no
such premium on bonds in u. S.
gold, because the rate of interest in
the U. S. is higher. We are not
doing anything against the financial
interest of this country by making